Exam 9: Market Segmentation, Targeting, and Positioning

In 1998,Apple refocused on the consumer and education markets,introducing the iMac - the most innovative PC ever created according to many PC and business analysts.By the end of the year 800,000 units had been sold,making the iMac the greatest PC product launch ever.This strategy was successful primarily because it identified:

When a financial institution considers charging additional convenience fees for things such as calling into customer service or visiting a teller in person they may be attempting to ____________ a customer segment group.

Five general criteria are often used to pick target segments.They include the size of the market,expected growth of the market,competitive position of the firm with respect to the market,and compatibility with the organization's objectives and resources.What is the fifth criterion?

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands:

"We're increasing TV advertising,adding some sales representatives,and adding 3 new product models.All those things are positive.But on the negative side,we're going to increase prices across the board by 20 percent.So on balance,I think sales will increase next year by 5 percent".When a marketing student overheard this comment,she knew the person who was talking was planning to use a ___.

Custom Foot runs six retail locations.At first glance none look any different from your basic old-fashioned shoe store,but the only shoes on hand are display models.There's no inventory for sale,and customers go home empty-handed - at least initially.Customers browse the store,mixing and matching design components such as style,colour,and leather type.About 100 display shoes provide style guidelines.Once you choose a shoe style,you select materials,colours,textures and a style of sole.The retailer sells 10,000 variations in women's shoes and 7,800 in men's.Custom Foot guarantees your shoes will be ready within three weeks.This is an example of:

At a Hallmark store you can find several different product lines of greeting cards,including Fresh Ink,Nature's Sketchbook,Shoebox,Maxine,Mahogany,and Tree of Life cards.This is an example of:

Post Grape-Nuts cereal has been marketed since early 20^th century.Its market share has been steadily declining as consumers began associating it with something their grandfather ate.Post recently launched a campaign to increase consumption of the cereal by inviting consumers to try the crunchy cereal on top of their yogurt,their salad,or their bowl of soup as a delicious addition.Post was trying to convince people who had never tried the cereal to try,and people who were familiar with the product to use it in a variety of different ways.Post is using which segmentation variable to define its target market?

Ultra-customization focuses on highly personalized products.These products are likely positioned through:

Some experts have combined geographic,demographic,and behavioural segmentation variables used in segmenting organizational (business)markets to produce a segmentation concept known as:

A business firm segments its markets when this strategy increases its sales revenue,profit,and ROI.When its increases in expenses more than offset the potentially increased revenues from segmentation,it should:

Many families today hold potluck meals during holidays or special events.Participants bring casseroles,vegetables,breads,and desserts and all share the food.It is easy to forget to take the bowl that you brought to the dinner back home with you.Reynolds responded to this problem by creating Pot Lux cookware,attractive and inexpensive disposable dishes for transporting food.Reynolds has recognized how to use ____ variables to segment its market.

What are the three main sales forecasting techniques often used by marketers? Describe each.

Post Grape-Nuts cereal has been marketed since early 20^th century.Its market share has been steadily declining as consumers began associating it with something their grandfather ate.Post recently launched a campaign which invited consumers to try the crunchy cereal on top of their yogurt,their salad,or their bowl of soup as a delicious addition.This is an example of a _____ strategy.

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Which social media segment is likely to be interested in purchasing the following financial service offered by a bank through an online banner-ad marketing campaign: 'No-Risk,Bonds Offering Guaranteed 5% Returns Per Annum'?

The headline of the ad for the Sleep Number bed by Select Comfort read,"5 Reasons Why You'll Sleep Better on a Sleep Number Bed." From this information,you know that Select Comfort uses _____ segmentation.

Why would an organization produce a single good or service and then attempt to sell it to two or more market segments?

In developing a marketing strategy for the newly released Nike Air Jordan XVII with a price tag of $200,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of:

Mass customization is similar to ultra-customization,as the 80/20 rule is similar to ___________ consumer segmentation variable.